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Bank Debit Taxes in Latin America; An Analysis of Recent Trends

Author

Listed:
  • Isaias Coelho
  • Victoria J Perry
  • Liam P. Ebrill

Abstract

Six Latin American countries have levied taxes on withdrawals from bank accounts, which have been viewed as a convenient tax handle during a difficult fiscal period. The paper reviews the arguments for and against this type of taxation, describes the taxes, and surveys their revenue performance and economic impact. It concludes that the recently implemented taxes have been successful in raising revenue in the short term, but that adverse allocational impacts have likely been significant. The tax may work better in times of fiscal crisis, when financial intermediation is deep, and when the tax rate is modest.

Suggested Citation

  • Isaias Coelho & Victoria J Perry & Liam P. Ebrill, 2001. "Bank Debit Taxes in Latin America; An Analysis of Recent Trends," IMF Working Papers 01/67, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:01/67
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    Citations

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    Cited by:

    1. Gómez Sabaini, Juan Carlos & Morán, Dalmiro, 2014. "Tax policy in Latin America: Assessment and guidelines for a second generation of reforms," Macroeconomía del Desarrollo 133, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    2. repec:col:000107:015643 is not listed on IDEAS
    3. Alberto Carrasquilla & Arturo Galindo, 2002. "Efectos En Bienestar De La Represión Financiera," DOCUMENTOS CEDE 002429, UNIVERSIDAD DE LOS ANDES-CEDE.
    4. Pedro Albuquerque, 2006. "BAD taxation: Disintermediation and illiquidity in a bank account debits tax model," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 13(5), pages 601-624, September.
    5. Victor Duarte Lledo, 2005. "Tax Systems Under Fiscal Adjustment; A Dynamic CGE Analysis of the Brazilian Tax Reform," IMF Working Papers 05/142, International Monetary Fund.
    6. Ignacio Lozano & Norberto Rodríguez, 2015. "Una Nota Sobre el Impacto del Gravamen a las Transacciones Financieras en los Márgenes Bancarios en Colombia," BORRADORES DE ECONOMIA 013876, BANCO DE LA REPÚBLICA.
    7. Sergio Clavijo, 2005. "TRIBUTACION, EQUIDAD Y EFICIENCIA EN COLOMBIA: Guía para Salir de un Sistema Tributario Amalgamado," BORRADORES DE ECONOMIA 003663, BANCO DE LA REPÚBLICA.
    8. repec:bdr:ensayo:v:35:y:2017:i:83:p:154-160 is not listed on IDEAS
    9. Cintra, Marcos, 2009. "Tax paradigms, globalization, and the electronic revolution," Textos para discussão 238, FGV/EESP - Escola de Economia de São Paulo, Getulio Vargas Foundation (Brazil).
    10. Ignacio Lozano-Espitia & Hernando Vargas-Herrera & Norberto Rodríguez-Niño, 2017. "Financial transaction tax and banking margins: An empirical note for Colombia," Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 35(83), pages 154-160, Junio.
    11. Cintra, Marcos, 2009. "Bank transactions: pathway to the single tax ideal A modern tax technology;the Brazilian experience with a bank transactions tax (1993-2007)," MPRA Paper 16710, University Library of Munich, Germany.

    More about this item

    Keywords

    Brazil; Argentina; Colombia; Ecuador; Peru; Venezuela; Financial transactions taxes; bank debit taxes; financial institutions; checks; credit; payments; stock exchange; Taxation and Subsidies: Other;

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